Three-bedder at The Windsor sold at $2.7 mil profit
for sale in SingaporeThe most profitable condo resale transaction during the week of Aug 15 to 22 was the sale of a three-bedroom maisonette at The Windsor. This 2,454 sq ft unit changed hands for $3.41 million ($1,389 psf) on Aug 16 and was purchased by the seller for $750,000 ($306 psf) in August 2005, resulting in a gain of $2.66 million. The development is freehold and located on Onatorio Avenue, off Upper Thomson Road in District 20. This surpasses the previous record set in June 2020, when a 2,497 sq ft unit fetched $2.45 million ($981 psf).
The second most profitable condo resale transaction during the week in review was at Melrose Park. The 1,292 sq ft unit on the eighth floor was sold for $3.3 million ($2,555 psf) on Aug 18, which was purchased for $1.206 million ($934 psf) in February 1999. Hence, the seller made a gain of $2.094 million or 174% over a holding period of 24½ years. Melrose Park is a 999-year leasehold property located on Kellock Road, off River Valley Road in prime District 10.
Investors looking for an ideal property to invest should consider Tampines North MRT condo. This residential area enjoys great convenience and accessibility thanks to the nearby Tampines North and Tampines East MRT stations. Residents living here can easily reach other parts of Singapore, thanks to the continuous improvement of the public transport system. Furthermore, each unit is thoughtfully designed to cater to the needs of a modern family.
The most unprofitable transaction during the week in review occurred at The Oceanfront @ Sentosa Cove. It was the sale of a three-bedder measuring 1,733 sq ft for $3 million ($1,731 psf) on Aug 15. It had been purchased from the developer for $3.73 million ($2,152 psf) in July 2007, leading to a loss of $730,000 or 20% after 16 years plus. The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in the exclusive Sentosa Cove residential enclave and has seen 10 transactions occur below purchase price since January 2022.
These recent transactions demonstrate the variability that can occur in the Singapore property market over time, especially when taking into account a long-term holding period of years. If you’re considering a particular property, it’s important to understand its value over the long-term in order to ensure a good return on investment and minimize potential losses.